Global Chronic Pain Management Market to Expand Tremendously with USD 104.5 billion USD in 2027

October 2021 | Report Format: Electronic (PDF)

The increased adoption of effective policies by respective governments, a skyrocketing senior demographic and the resulting increase in the demand for aged care, as well as the growing prevalence of chronic illnesses worldwide are the factors driving the market's development. The well industry of painkiller drugs as another line of therapy is driving the expansion of the worldwide chronic pain management industry. In recent decades, the increased dependence on their long-term usage, as well as a better knowledge of their adverse effects, has led to an increase with the use of gadget pain management therapy. The COVID-19 outbreak has left people with chronic pain undiagnosed because individuals avoid medical visits out of fear of contamination. On the contrary hand, social exclusion throughout the pandemic may lead to avoidant coping techniques that contribute to melancholy and worry amongst some of the patients. As a result, the COVID-19 outbreak is predicted to have a significant and indirect influence on the worldwide pain treatment industry.

Worldwide, the chronic pain management market has grown the most in North America in terms years, and so this trend is expected to remain in the years ahead. This would be due to the region's expanding senior population, the availability of many chronic pain treatment drugs and technologies, and the increased prevalence of chronic illnesses. The worldwide pain management industry is extremely competitive, with a number of prominent companies. The existing big competitors in the pain management industry adopt aggressive competing strategies, resulting in intense competition amongst them. AstraZeneca PLC, Abbott Laboratories,   Becton, Dickinson, Baxter International Inc., and Company, and Boston Scientific Company are one of the market's leading players. The key competitors' product advances and improvements in medically necessary are strengthening the existing competitive competition.

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Chronic Pain Management Market Report Highlights

• In 2018, Eli Lilly and Company submitted to the USFDA a Pharmaceutical Drug Application for Lasmiditan, for the management of migraine even without oxygen, phase of pain, in adults.
• Boston Scientific Corporation introduced the WaveWriter Alpha, a range of Spinal Cord Stimulator (SCS) devices that integrate therapeutic choices for individualized pain alleviation, in January 2021.
• Medtronic PLC, for example, developed the Intellis system in June 2019 to treat specific forms of chronic intractable pain.

CHRONIC PAIN MANAGEMENT MARKET SEGMENTATION

The research report published by Market Research Strategy contains industry segments, as below-

Chronic Pain Management Product Outlook (Revenue, USD Million, 2016 - 2027)

• Drugs
• Devices

Chronic Pain Management Indication Outlook (Revenue, USD Million, 2016 - 2027)

• Arthritis Pain
• Neuropathic Pain
• Chronic Back Pain
• Cancer Pain

Chronic Pain Management, Application Outlook (Revenue, USD Million, 2016 - 2027)

• Neuropathy
• Musculoskeletal
• Oncology

Chronic Pain Management End-User Outlook (Revenue, USD Million, 2016 - 2027)

• Clinics
• Hospitals
• Nursing Homes
• Research Centers & Universities

Chronic Pain Management Regional Outlook (Revenue, USD Million, 2016 - 2027)

• North America (U.S., and Canada)
• Europe (Germany, U.K., France, Italy, Spain etc.)
• Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
• South America (Brazil, Mexico, Argentina etc.)
• Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa etc.)

List of Key Players- Chronic Pain Management Market

• Sanofi S.A
• Becton, Dickinson and Company
• Advanced Card End-Users Holdings Limited
• Bristol-Myers Squibb Company
• Cubic Transportation End-Users, Inc.
• AstraZeneca plc
• Johnson & Johnson
• Novartis AG
• Boston Scientific Corporation
• Abbott Laboratories
• Pfizer Inc.
• Medtronic plc.
• GlaxoSmithKline plc.
• Eli Lilly and Company

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